$RARE / USDT Showing Bullish Momentum After Consolidation! ⬆️
SuperRare ($RARE ) is currently trading at $0.0717, displaying positive momentum on the 4-hour chart with a -1.78% change in this timeframe, but up significantly +10.66% on the day.
📈 Key Observations:
Current Price: $0.0717
Breakout Attempt: The price is attempting to break above the recent consolidation range around the $0.0720 level.
Higher Lows: Notice the series of higher lows forming, suggesting increasing buying pressure.
Strong Daily Gain: The significant gain on the day indicates strong underlying bullish interest.
Increased Volume: The 24-hour volume of RARE is at a healthy 311.57M, supporting the recent price movement.
🎯 Potential Bullish Scenario:
A sustained break above $0.0720 could lead to a test of the recent high at $0.0749 and potentially higher targets.
Increased buying volume upon breaking resistance would provide further confirmation.
🛡️ Key Support Level:
The $0.0700 level is acting as potential short-term support. Holding above this level is important for maintaining the bullish momentum.
🧐 What to Watch For:
Breakout Confirmation: Monitor for strong buying volume and sustained trading above $0.0720.
Retracement Levels: If a pullback occurs, watch if the price holds above the $0.0700 support.
$RARE is showing promising signs of breaking out after a period of consolidation. Keep an eye on the resistance at $0.0720 for potential entry opportunities.
